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. >>> investors are bracing for the final eurozone bond sale of the year. italy will sell up to 6 billion later today. >> and the yen has been sent lower and stocks to their highest level in 21 months. >>> this is the final "worldwide exchange" from london of the year. louisa is here for it. >> i can't believe it. it's my last working day of the year, as well. >> is it? >> yes. >> unfortunately we'll still be talking about the same thing we're talking about now. >> although i feel we'll be talking more debt ceiling, as well. >> and speaking of which, president obama is trying a last ditch effort to restart budget talks days before the u.s. goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we fin
's available to lead italy. he'll run for office in the upcoming election, but only for a party willing to push his agenda. >>> but he has competition in the form of sylvia berlusconi. he tells cnbc he feels a responsibility to run. >> feel the need to return to the political arena to prevent the country from being delivered into the hands of a leftist party. >> and the crowds are out, the stores are ringing up those sales, but u.s. shoppers may be running low on holiday spirit. and analysts say that they're spending less, as well. hi, everybody. welcome. merry christmas out there. thank you for joining us here on the show. what we're looking at today, we've got slightly quiet markets ahead of the u.s. open. what we're seeing, though, that all the markets are being called lower across the board stateside. the dow is being called a bit lower, nasdaq is being called a bit lower and the s&p 500 being called down by a bybit, as well. we saw markets coming off on friday stateside. pretty significant drops, as well, given that we now seem to be a clashing of heads between the republicans and the demo
like san francisco as often as we can. >> uh-huh. >> and we have a house in italy when we -- that we go to. >> we'll get to that in a second. >> okay. >> first of all, michael, this is -- . >> yes. >> this is your first novel. i didn't finish it and i'm like -- there is a lot of stuff in here i'm thinking oh, oh, he wrote that about them. that is true, sounds like them d. you ed it yourself a bit -- edit it yourself as to what went? or do you have to live with it? >> i wrote the book, a mantr awhile writing the book was no one will ever read this. [ laughter ] that kind of frees you up. >> uh-huh. >> and it's, you know, a lot of the stuff in the book is fiction. it's fiction. >> uh-huh. >> it's not about mike and jill, it's about her being annie and there are a lot of similarities between her being annie. >> there are. there are actors, they're in new york. >> uh-huh. all of that is the same. >> she has cancer. >> uh. that is the same because it gave me, you know, a wonderful world of things to draw on, to make the book real. >> uh-huh. >> and then the great thing about writing fiction
a look at the bond curve. spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a rally. finally, let's close taking a look at the forex. euro/dollar is weaker. and it's holding just above 1.30. and the dollar/yen, this is the one sixuan mentioned to watch. heading into japanese elections, stocks outperform adding oots .1% to 83.35 this morning. >>> south korea's central bank may be worried about factors in the economy, but the dok says the economy is stronger than it used to be. more on that next. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp o
just that. share prices in italy have fallen sharply as investors reacted to in the news that mario monti intends to resign. berlusconi hopes to stage a comeback. >> stormy political weather ahead for italy. suddenly, mario monti is on the way out. there will be early elections and berlusconi is reaching for power again. on the markets, there is deep unease. they're like the austerity measures and the reforms of the technocrats, mr. monti. they fear the return of politics as usual in italy. even if berlusconi is far behind in the polls, the very idea his attempt at come back has jangled nerves. >> the markets are shocked at the prospect that berlusconi would become prime minister again. he is responsible for the crisis in italy. he should enjoy his pension. the reforms have to go on. >> in this from the marketplace, there is not much enthusiasm for a return of mr. berlusconi. >> we italians need to worry, not because of the current crisis. more because this idiot berlusconi is around. i hope it's a good smashed in the face. -- i hope he gets a good smash in the face. >> but berlusco
secretary general could get heated. >>> italy likely to see a strong uptai uptake thanks to supply reductions before year end. >>> and let's twist again. the fed set to announce a fresh around of bond purchases to match the outgoing twist program at the end of the year. >>> the international community blasts north korea after it successfully launches a long-range rocket, prompting an emergency u.n. security council meeting. >>> all right. a very good morning to you. we are going to be on to opec later. we've got the latest i.a. data out this morning. they're saying global oil demand projected around 90.5 million barrels a day. more than forecast. they say non-opec production bouncing back. an something bit. they're saying opec crude supply inched up in november led by higher output from saudi arabia. >> i think we'll have to call this today the case of the two oil reports. we have the opec report that they put out ahead of the meeting showing different figures from what the iea is saying. >> they're saying saudi arabia figures saying we produce less. now the i.a. saying they produc
worked in italy-- nicholas poussin and claude lorraine. turner followed claude's example by ennobling landscapes with historical or mythological figures. he made frequent visits to wales. as he moved further into the mountains, he found subjects that were central to one of the most powerful elements in late 18th century british aesthetic thought-- the sublime. ♪ the idea of the sublime, embodied by the overpowering majesty of nature's grandeur, was an idea popularized by the philosopher edmund burke. for burke, contemplating that grandeur-- either directly or in paintings-- overwhelmed viewers with feelings of fear, awe and exaltation. it also had a moral element, emphasizing man's insignificance and humility in the face of the terrifying forces of nature. the fascination with the sublime was an international phenomenon that intrigued many artists of the time-- inspiring philippe jacques de loutherbourg's terrifying alpine avalanche... joseph wright's spectacular vesuvius... and caspar david friedrich's transcendent image of a wanderer contemplating the infinite. turner's interest i
through the first ter. there will be a rocky road possibly driven by news from italy in the latter part of february. so i'd be long now, but i would -- on that position. >> and we'll get into more of on that in just a minute. allen will stay with us. if you have any questions, send them in. worldwide@cnbc.com. if you want to share your thoughts, say hello here on this quiet christmas week. we would appreciate that, too. >>> a ja toyota has agreed to settle a class action lawsuit. customers brought the case against toyota claiming certain models accelerated unintentionally. 16 million vehicles will be covered by this action. it includes the camry and corolla. the nikkei generally speaking was higher this morning. >>> the season of good will seems to have tech firms bye. this amid claims that ericsson breached a number of samsung patents. >>> now let's check in on markets. it's time to look at the heat map. and we have green, more green than red on the board today. by three to two, gainers outpacing losers. now, europe was closed yesterday. there was trading in the u.s. it was a weaker se
midnight in italy, but because of the pope's health and to give him time to rest before he delivers the christmas day message, this year, the ceremony began at 9:00 gmt, and that would be 10:00 in italy, which was just about one hour ago. the pope conducting this mess and also lighting the candle of peace, which he did earlier and put on the balcony of his apartment window, which overlooks st. peter's square. this is one of the largest churches anywhere in the world. there are tourists and dignitaries and obviously lots of clergy as well. just to say that it is midnight mass even though is not midnight, but this will give the pope's some time to rest before he gives the christmas day speech from the balcony. let's have a look at some other news. a gun attack in the united states which has left others grieving, and two firefighters were killed as they responded to a blaze in upstate new york. the governor of new york state has called what happened in at the small town a senseless act of violence. it comes just 10 days after a shooting killed 26 people at a connecticut primary school.
of italy without their unde >>> if you're traveling you know good advice. take your under wear in case your check in bags get lost. >> the key phrase is is usually good advice. michael finney here now with a problem solver. >> now, if you guys came to me and said michael, what should i pack in my carry on, boy say carry those things you can't to without. as you said usually good advice on this flight, that normally good advice went awry. sandy is showing us the drill. traveling widely taking a carry on with the must have items. earlier this year, on a trip to italy, things got off to a rocky start for sandy and her husband. >> they're told on the plane before we got on the plane that the overhead bins were full. check your carry on. which is what we did. >> then, what happened? >> then, we got to rome exit wasn't there. >> took took insights and sounds of italy. they bought new. luggage arrived they went to pick it up. >> we had to go to naples, pick it up. and that was probably an hour ride on the bus. and then, we had to take a cab from the airport to the train station where we were going
unite all the family in italy, get together and we start around 7:00. and even before people go to church at midnight. and we start with seafood. >> you say you start with fish. this is the secrets -- >> this is secrets of the sea. >> what's in this? >> baby clams in the shell. >> it's got olives in it. >> olives, capers. >> the secret sauce -- >> just a touch tomatoes, garlic, white wine. that's it. >> when we talk about seven fishes, you've got fish coming all night in italy. you begin when people first walk in with these wonderful oysters. >> oysters, clams, whatever shellfish we have we put them on the table. >> let's have a look at this. this is fresh fish that you've been marinating. >> fish and shell dish. longostino, yellow tuna, whiting, these are called eel. >> you take all of that beautiful fresh fish and you put it in -- what are we sauteing? >> when you put this in the pans, saute little bit, olive oil, mix breadcrumb, white wine, capers, oregano. >> you also brought some pasta. can you lift that over here? >> this is tradition ravioli for christmas day. >> does thi
're seeing this morning. yields up to 4.5 roughly in italy at about 5.4%, respectively. gilt is moving up towards is.9% this morning. the bund yield is still extremely low, so that spread between gilt and bund is widening. look at the euro/dollar. 1 1.3171. extraordinary. we're almost up at that 1.32 level. the dollar/yen is flat, right about 83.88. there we go. a little bit of movement there. the aussie lsh dollar is weaker. the aussie/dollar has been weakening. maybe the researchers of the yen not doing too much to spur sentiment. in any case, let's get the latest out of singapore. >> good morning. you're right, sill st some danger for the japanese markets. however, the yen-sensitive shinzo abe trade still in place. we did see the nikkei gain another 5% today. over the last 15 weeks, it has gained 15%. analysts saying it's now in overbought territory. the nikkei 225 keeps gaining. dollar/yen, pretty flat today. although we were sitting on that 84 handle a little bit earlier. all eyes now on the central bank meeting later this week. expectations for some aggressive monetary easing for al
an eye on it, it is falling a little bit. 1.95% after a soft set of uk retail sales figures. spain, italy, moving higher, but not too much of a move there. 5.3%. and 4.4 for italy. now, forex rates, the euro/dollar and the yen has been in focus still in the last several trading sessions and that continues today. 1.3230 is the level. the yen, though, is giving back about .5% after the bank of japan's quantitative easing plans, pretty much flecting a buy the rumor, sell the fact move. now, house republicans plan to bring their tax bill to a floor vote today. this as tensions over the white house over the fiscal cliff have started to rise. it's unclear what the bill, known as plan b, will look like. house speaker john boehner has reportedly added spending cuts to convince members it will be worth the vote. president obama has threatened to veto the bill. the president says he's puzzled by what's holding up budget talkes and that house republicans should stop trying to score a point against him. >> take the deal. you know, they will be able to claim that they have worked with me over the last
. as for the action in europe, really, the action focuses on italy where there's an impending political regime change. more on that in just a moment. the road map starts at the golden arches. mcdonald's blowing out expectations for november sales after the dismal drop in the month of october. hoping to fuel the rise, the bacon/onion/cheddar sandwich. >> there's one thing for certain, taxes on top earners are going up. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald's is levered to new products, levered to menu technology. they do invent things. my hat's off to janet. they had thi
closing at 12:30. the nordic markets all closed for trades today. italy closed for trade. the smi closed for trade. we've got the ftse 1100 a couple of points higher. the cac and the ibex 35 just off marginal marginally, as well. i would like to show you what type of performance we've had on a year-to-date basis. rising somewhere in the region of 15% since the beginning of this year. you will note that we have had had a bit of a rally heading towards december. the question is whether we'll see that continue into next year. looking at a slightly broader base, the 600 index here, year-to-date higher by 15%, as well. europe's largest economy, the german market seeing some pretty significant gains as well as the dow jones stocks 50 up by 50%. so this brings its up, can it really continue next year? that's when you want to glance at barons, indicating over the weekend you could be looking at a rally. 20% next year. they singled out a number of stocks that they mentioned next year. by the way, andrew one look like one of the little elves in denmark dressed in my parents' garden. it's very swee
finney helps a bay area couple forced to take a tour of italy without >> did you know abc7 news has the fastest weather tracking system? take a look at live doppler 7 hd. our morning meteorologist tells us how it will keep your family safe during our severe weather season. >> winter is officially two weeks away. the rainy season is already here. abc7 news is the best place to track it. abc7 news has the strongest, fastest, most powerful storm tracking system in northern california. from sky 7 hd you can see our exclusive live 7 hd high above the mountain. it's farther west than any other doppler radar in the bay area. the national weather service's doppler is more than 100 miles south in the santa cruz mountains. together we track the storms as they move through the bay area. when rain is approaching. abc7 knows who will be impacted first. live doppler 7 hd is so powerful it can scan hundreds of miles in seconds and pick up even a trace of precipitation in your neighborhood. the national weather service predicts a dryer and warmer than average winter in california because of the el
was in congress i have the invitation of president carter to visit italy with the delegation. we went there to deliver assistance from the united states government after an earthquake in southern italy. in one of the villages we visited there was a rehearsal for first communion going on in the church. just about every seven-year-old in the village was there practicing. when the earthquake hit, the roof came down and every seven- year-old in the village was gone. it was impossible to console people there. not only have they individually lost their child, which is unthinkable, but the whole town had passed -- have lost that class. their babies. that really transformed my thinking about how fragile life is. this was a natural disaster. what happened in the town -- newtown was a personal decision whose judgment was impaired. how could he do this? because he had his own problems. how could he do this? because he had the guns. he had the assault magazines to do it. that is how he could do it. let's at least try to mitigate for the circumstances we may not be able to control entirely, the me
that means but italy has its own laws as you know, probably as well as anybody. but he wants -- he'd like to continue to run the show because he feels just like mario draghi that he's been very successful and he can't let go of the reins. now i understand that. but he doesn't want to run. >> he's been very successful and he tells us about that. >> right. >> he had his july 26th surprise between him and mario draghi but in the end as you pointed out off camera he doesn't want to lose. he's not going through the process in a way where he can lose. basically if you appoint me i'll take it. >> right. >> i think president obama or any politician in the u.s. would love to have those terms up. >> right. he wants the terms. no election. i don't want that process. i don't want the feeling of rejection but i'd like to continue in this path. italy has to make a decision and i think the big money will line up behind him. we see the reactions when berlusconi was on the rise for those two days the bond market got trashed again in italy and he's been out there talking this morning anyway. >> switching g
seeing signs of stress again with the concerns about leadership in italy, and problems in greece, and should we pay attention to that than the fiscal cliff discussions? >> well, you know, right now, doesn't seem like the market is paying attention to that right now. it reminds me a lot of september, before the election, when the s&p's rallied. everything was con taped. we were worried about central bank, liquidity, numbers okayed here, heating up in china. people thought europe was contained, and it feels that way now. people looking past the headlines whether it's the fiscal cliff or europe. i mean, there's a lot of doom day sayers out there, and it makes sense, but it seems like everything right now is contained, and the trade is up to the upside. david: right. liz mentioned the fed decision coming up, should be hearing about it tomorrow. what's the market expecting from the fed? in what way will they be excited or disappointed? >> well, i think the market, if you look at the options market, the flows into the ten year treasuries, it's implying 85 billion per month. the reason
of work. things are not quite that grim in italy, but more and more young people are looking for work. the youth unemployment rate is 36%, the highest since june 2004. >> we have to take a short break, but when we back, december 1 is world aids day. we will be taking a look at the problem of hiv/aids. >> and what is germany going to do with all its nuclear waste? stay with us for that. >> thanks for staying with us. >> welcome back. one of the consequences of the breakdown of public services in the wake of the economic crisis in greece is a sharp spike up people they're infected with aids. >> on the eve of world aids day, officials are warning infection rate could get out of control unless action is taken. >> but as a new report just issued by the united nations shows, there is encouraging news. there's been a large reduction in the amount of new cases in southern africa. >> education campaigns and easier access to medicines have paid off in the battle against hiv. the number of people newly infected with the virus has dropped by 70% in malawi, botswana, and namibia in the past decade
italy and north america. >> you made this butter sauce with what you saute'ed the mushrooms. >> you wipe it down a bit but then you leave it in the remnants right there. >> we boil about 15 minutes. what's in the butter sauce? >> butter, water, oregano. be careful when you make a butter sauce not to make too much because you don't want any left over in the pan when you are done. >> okay. we'll put this over some kale. look how pretty that is. we'll take some parmesan cheese right on top. we'll finish it off with a little bit of olive oil. >> give it some shine. >> look at how beautiful. >> steph. >> beautiful plate. >> love that. oh, get the forks. >> tonight there will be outdoor lighting in san francisco on the first night of hanukkah. the lighting ceremony has been happening in union square each december for the past 37 years. tonight's lighting happens at 5:00. that will continue for seven more nights. there is another lighting of the minora happening at 6:00 in gear deli square. in sports, a star pitcher who suffered a injury with a's has signed with another team. >> reporter: good
of putting on taxes. >>> france, italy, the united kingdom, even greece is raising its tax rates and it's not helping at all. growth rate is very low. thank you. bugging your bus with your own tax dollars. government says it's eefgs dropping for your own safety, folks, but it is just a costly invasion of your privacy? wow. these are really good. you act surprised. aah! aah! practice makes perfect. announcer: you don't have to be perfect to be a perfect parent. there are thousands of teens in foster care who don't need perfection, they need you. >>> nothing private anymore. san francisco the latest city putting eavesdropping devices on public buses. department homeland security dishing out $6 million to the city by the bay so it can listen into the passengers and more towns are planning to do the same thing. and john hates the idea. why? >> its horrifying blast to the iron curtain world of the past where brutal governments snoop on people. we're not subjects of the federal government. they work for us. the idea they become angels so they can look over us is really scary thing. >> it's th
school of notre dame was influential. we know it innewsed music across europe, spain and italy. >> but you have no idea how delighted quazi moto was. the bell told to mark the hours of the day as it told to mark the liberation of the city in 1944. >> in front of notre dame and even in one of the towers of the famous cathedral, the nazis have established fire. >> we traveled west of paris to normandy to this village, to one of three bell foundrys still in operation. here they are casting the eight new bells to hang in the to your. >> the original bells were seized during the revolution and melted to cannon balls. they are recasting them in copper and continue using molds fashioned from horse hair and ma nuria. >> as we don't want them to make them twice, we will make them higher in tune. and we will take the met a aloff inside to get it perfectly calibrated. >> once tuned, they will toll for the first time in march on palm sunday. right now it is the christmas nativity scene that draws the crowds with two million people expected in december. always an attraction. though it's the
of the half-tipped-over cruise ship right there off the coast of italy. it was a tragic case, it was obviously a loss of lives and a tragic situation all around. what made it particularly striking, however, was some of the kind of bizarre circumstances surrounding the behavior of the captain at the time. and that immediately raised questions about the safety standards at the operator. > that's right, thoughts of an affair with a younger woman, and there were just a lot of details on that. moving on to apple and foxconn. this was a shocking story to a lot of people as to how people were treated over in china as they make iphones and ipads for apple. > > yes, it was a surprising story for many. and of course, apple, and iconic company with a passionate customer base nevertheless found itself in the spotlight over labor conditions not at its own factories, but at a supplier. what you have here is really an increasingly common phenomenon, where brand companies, companies that are well known, are held accountable for business practices that go really beyond the immediate operations that they contro
in italy and there lost an arm to a german grenade, leading a battle that won him the medal of honor. >> everything became a bit crazy. bullets flying all over the place, and my arm flew off. i looked for the grenade because i knew it was in my hand, and there it was still clutched. and i peeled it off and threw it at the enemy. >> reporter: inouye was elected to the u.s. house of representatives in 1959. the same year hawaii became a state. he won a seat in the senate three years later where he served 8 1/2 terms. >> he was a man who, as we all know, rarely called attention to himself, but who lived a remarkable american life filled with dignity and grace of the true hero that he was. >> reporter: he gained notoriety when he served on the senate committee looking into the watergate scandal. the probe ultimately led to president nixon's resignation. in a statement, president obama said, "our country has lost a true american hero." cbs news, los angeles. >>> congressman tim scott has been appointed to fill the south carolina senate seat vacated by jim demint. scott will be the south's
instead of putting on taxes. >>> france, italy, the united kingdom, even greece is raising its tax rates and it's not helping at all. growth rate is very low. thank you. bugging your bus with your own tax dollars. government says it's eefgs dropping for your own safety, folks, but it is just a costly invasion of your privacy? >>> nothing private anymore. san francisco the latest city putting eavesdropping devices on public buses. department homeland security dishing out $6 million to the city by the bay so it can listen into the passengers and more towns are planning to do the same thing. and john hates the idea. why? >> its horrifying blast to the iron curtain world of the past where brutal governments snoop on people. we're not subjects of the federal government. they work for us. the idea they become angels so they can look over us is really scary thing. >> it's the worst of the past. big brother era and worst of the future with high technology. what do you think? >> please. come on. a lot of crime happens on buses. i think it's a great idea we have cameras in there. it's not like som
and that is a game leapfrog. we end up with more debt and a weaker economy. the road map is greece, italy, spain, all over europe but the president thinks you can tax-and-spend your way to prosperity. >>neil: what the administration throws back on the issue is take a look at italy and greece, austerity has worked. you say what? >>guest: they have a strange definition. alwaysst either to them means higher taxes in europe and the united states austerity means less spending. i am in favor of the right definition of austerity. the balkan countries got out of the mess and now they are doing well economically because they cut, not just cut spending in the washington sense of increasing it at a slower rate they spent less one year after the other and now they are out of the trouble. if you understand the right definition of austerity is the way to go, the problem is in most of europe it means higher taxes, obama wants to give us the bad part of europe, without the good part. >>neil: thank you very much. they are not cutting anything. just slowing the growth. rebound and former president bill clinton hitting
a carry-on with the must-have item. on a trip to italy things got off to a rocky start for season and her husband. >> we were told when we first got on the bag before we got on the plane the overhead bins were full so you must check your carry-on, so we did. >> then what happened. >> we got to rome and it wasn't there. >> they took in the sites and sounds of italy but without underwear, of course, so they bought new. when their luggage finally arrived, they went to pick it up. >> we had to go to naples to pick it up. and that was probably an hour ride on the bus from where we were. then we had to take a cab from the airport in nap else -- naples to the train station in rome. it happens so she put in a bill for her costs. >> underwear, a sweater, a jacket, and we had to buy a bus ticket from there to the naples airport and cab fair to the train station. >> and what did she bill the airline? less than $70. >> it didn't come, it didn't come, it didn't come, so finally i decided, okay, 7 on your side is going to be my way of getting my money back. so i did contact 7 on your side and i was cal
on the battlefield, world war ii and lost his arm in battle. bottom line, he was wounded just one hill away in italy from where former senator bob dole was also wounded and senate majority leader harry reid was here hawaii today eulogizing senator inouye, talking about how emotional he got as he saw the senator's casket in the rotunda. >> he wasn't satisfied just to be there, he wanted up on that platform so he could reach his friend of 60 years, dan inouye. he got up there, with a little struggle, but he got up there and soldier to soldier, with his left hand, he saluted his soldier friend of 60 years. >> reporter: now, i want to make clear that senator inouye, i said he was award theed medal of honor. he earned it, he's a recipient. not something he won in a contest. and they heard me say that or told i said that. i want to clarify that senator inouye, all three of men received the honor, great, great honor, harris. >> harris: you've cleared it up for us, ed henry. now we'll see the flip side of this and talk about what's going on here in the mainland. the president is on vacation obviously, but
wo world war ii. he lost his arm in the battle. he was wounded one hill away in italy from where former senator bob dole was also wounded. harry reid was in hawaii talked about how hie motionnal bob dol got when he saw senator inouye's casket in the rotunda. >> he wasn't just satisfied to be there he wanted up on the platform so he could reach his friend of 60 years dan inouye. it was a little struggle but he got up there and soldier to soldier with his left hand he sal lawsuit-- saluted his soldi friend of 60 years. >> now i want to make clear senator inouye was the recipient of the medal of honor. today i said he was awarded the medal of honor. big difference. he earned it. he was a recipient. i understand ball bouka and dakota meyers who were both recipients were told i said that. i want to clarify senator inouye all three of the men received the honor. great, great honor. >> you have cleared it up for us. y we will hear the flip side of this and talk about what was going on in the mainland. >> the president is on vacation obviously. is he doing other work that might bring him
. the question is what going to become o of the circus known as the political situation in italy but really we do think futures will trade higher again. liz: thank you, john, good to see you. david: shares of diamond foods following double-digit lead. nicole petallides with details as to why. nicole: you think of diamond foods you think of the peanuts and the top-secret popcorn. it really is a household name they came up with numbers in the fourth quarter loss, not good news. that is why the stock was tanking today. all kinds of charges they had according to an accounting scandal investigation, that actually hit their numbers as well. this is why diamond foods was coming under some significant pressure today. back to you. david: president obama visiting a michigan auto plants today discussed in a fiscal crisis. our next guest argues in the long run they could see strong auto sales if ther there's no d% all. joining us now, edmunds.com chief economist. good to see you. how would we be better off if we go for the fiscal cliff at least in auto sales? @> we're better off because we're taking hard med
%. what we saw was the recession expanding. spain, italy, the uk, all found austerity taking its toll even more as unemployment continued to rise in some of those countries. even the large country, the economic powerhouse germany found its slelf slowing down. the root cause of it all was the inability of the european governments to come to policies to get growth started again. towards the middle and end of the year they did, but the tale was style there. very much austerity again and again. perhaps if there was only one change that took place as we moved into the fall and into the winter. it was the realization that most of these countries could take no more austerity. social welfare having been cut, health care cut, unemployment, growth virtually nonexistent. now the talk is not of more austerity, but how to get growth started again across the contine continent. suzanne. >> thank you, richard. >>> christmas, of course, is a time of giving, but there are many struggling families in boston that couldn't aafford to get their children he anything. this year for almost six decades help kamt no
's highest military medal for action in italy. as a member of the senate, senator inouye continued his fierce defense of his state in his partnership with alaska. my preye predecessor, ted steve, knew senator inouye as his brother. they worked together and produced much good for both our states. that will last for generations. when i was elected to this office, senator inouye was one of the first members to reach out to me to ask how he could help. the unique thing about senator inouye was always his quiet approach to all the issues. he provided me quiet advice and helped me learn how this place works. many times i'd be down here at the podium and in the well here waiting for the vote to be tallied or members to vote, and snon senator inouye was come in, stand at the edge there and look up and just say, how's it going, alaska? and we would have a brief conversation and usually his words were land incredible insight -- it may not even be relevant to the topic that we were voting on, but he'd say something to me about something he knew i was working on. and he would just share a few words. i kn
the road, which is rich coming from a european. >>> european trading the lower this morning. italy's prime minister mario monti, yes, the same one that is famous from all the anti-trust things back in the -- was that the '90s? >> the '90s, yeah. >> monti announcing he'll step down before his term ends. the decision comes after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him to the beach. the major european averages at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback fo
for broke regiment. he saw combat in italy and southern france and was badly wounded during an engagement for which he was awarded the distinguished service cross. which was later upgraded to the medal of honor. our highest award for military valor. with financial assistance from the g.i. bill, inouye graduated from university of hawaii and the george washington university law school. when hawaii became a state on august 21, 1959, annual in a way at one election to the united states house of representatives as a new states congressman. later elected to the united states senate in 1962, he is currently serving his eighth term in the united states and. >> in our earlier and abuse in this series, other people we have spoken to have talked about the first time they were sworn in as a member of congress. in 1959, he became the first member from hawaii. what was that like when you were first on the floor of the house of representatives? >> well, i spent some time in washington before this, as you know. i went to law school, but i've never been on the floor of the chamber. and so it was an aweso
won't do particularly well, but germany and italy maybe next year have a potential surprise on the upside. >> how much of a surprise? >> it will not be a fast recovery. the ecb will be forced to do more, but they'll be drald dragged into it. so things will have to get worse before they act. so i don't really think -- >> what more actions? they have a t program waiting to go. what more actions are you talking about? >> the key policy rate for the ecb is likely indeed in the first quarter. they can take dpopt deposit rate negative. by the middle of next year, they'll be doing outright qe. i've been talking about this for ages. they haven't done it so maybe they won't do it. but i'm assuming that the outlook for inflation for the eurozone is -- >> how are they going to get around -- look, i know the bundes bank has a fear of hyper inflation. i just don't -- are they going to get around all the -- because even if they do it on the inflation mandate, are they going to get around the objections about outright money printing? germans would see it as that. >> they would see it as ou
than the united states. i mean, countries like spain, italy -- >> the austerity policy. when you look at the country -- >> countries like spain and italy -- >> i'm talking about the labor market adjustments. >> they have seen 20%. that's a problem. >> i'm sorry. i didn't hear -- what did you say? >> spain, italy, unemployment around 15, 20%. >> of course they do. >> juliet, hang on, because it is connected to the german point. part of the reason that germany has been able to have export-led growth and be so successful internally, germany is the china of europe. >> i realize that. i made that point about 20 minutes ago. you add shock at the beginning. i'm not talking about the later stage of austerity and self-imposed pain, which is what europe is dealing with right now. but if you look at the ocb adjustment to the downturn and the u.s. has a huge g and p adjustment and loss of unemployment where a lot of these other european countries adjust on hours and their unemployment doesn't go up. that's the only point i was making. >> adjust on hours meaning you get something more like job sha
? not italy, i can tell you that. one global investor shares his pick next. tracy: the food and the love is still better there. a look at the winners and losers on the nasdaq. as we head out to break, research in motion up top. liberty media holders and sears all down today. we will be right back. tracy: so here's a shocker, not only as a federal government spending way more money than it has, but state government spending is also out of control. so much so that had to hold a conference to figure that out. senior washington correspondent peter barnes has the latest. let's get all these people together, spend more money to figure out where overspending. >> it was an interesting conference. many state governments have also made big spending commitments they may not be able to keep and display experts at the u.s. chamber of commerce said it could be getting worse. this report from that task for force, the state budget crisis task force estimated state and local tension funds are underfunded by 8 trillion to 3 trillion. another trillion for unfunded health benefits and other health care refo
's happening with italian politics. of course, mario monti saying he was going to resign as italy's prime minister. that paves the way for flesh elections to be called in the beginning of next year. yesterday, we saw the negative reaction. sylvia berlusconi wants to make his return on the political scene. today, we saw a bounce back. if you can see see bind me, the bank stocks in italy rerebound, but it's only in the range of .5% to 1% of these names which were down in some cases nearly 10% yesterday. if you take a quick look at european bourses, if that's possible, down near the ftse mib, this is the one selling off somewhere in the range of 3.5% yesterday. today it's adding about .8%. in spain, showing a nice rebound. same attitude listing peripheral debt. we can take a look there. italy and spain seeing prices rise, yields falling to 4.75% and 5.75% respectively. is investor attention returning to spain? here is the thing. italy is the third biggest government debt market in the world. it's the third biggest economy in the eurozone. whatever happens with its political situation could p
was supposed to come to market. italy, oh, my, what happens when italy -- it turns out you had to take it down. i know that john corzine, very controversial figure. that's a code word. but what a trade they almost had. in the news again today. >> almost. >> horseshoes, hand grenades. >> we should point out, gm was certainly not having the easiest of times of it. this morning's stock is up sharply, we're telling you why. the company will buy back at a premium to at least what was the market price as of yesterday, 200 million shares from the government at $27.50. that having the effect of sending the stock above that. why not, if you're gm, you've got all this cash sitting on your balance sheet. you're earning virtually nothing on it, why not take the opportunity, even at a premium, to buy it back by as much as 11%, shrinking the cap by that much. we heard from tim massad who runs t.a.r.p., they'll be dribbling out the shares over time. the next 12 to 15 months. similar to the strategy employed with citi. a bit of it coming out. and finally they cleaned it up with a few big blocks. >> that was v
administration did not take the attitude, we don't care if communism comes to power in france, italy, or japan, as long as there's fair elections, that's all we care about. that was not their attitude. in fact, they were willing to pour covert american funds into political campaigns which, on some level could be seen as prejudice to the free and fair elections, which i think they under correctly to be in the long term interest to preserve democracy and freedom in those countries. we have to rethink the checks we put on our behavior today where we are terrified of having the cia, for example, be involved in covert funding of modern elements in the muslim world, in part, baa we are rightly concerned that cia involvement is impossible to keep secret in today's world of wikileaks, but i, you know, unfortunately, our enemies show no self-imposed limits on them, and out there practice active dollar diplomacy on interests not congruent to our own, and we are standing on the sidelines. it's a lesson that -- this is just one example of many oh i think we are failing to wage political warfare. i only ha
lost an arm during a battle in italy. he became the first japanese-american in congress and served 50 years in the senate. he played a key role on two major congressional investigators, watergate and iran contra. daniel inouye died yesterday. he was 88 years old. >>> it looks like the first president bush will get to spend christmas at home with his family. the 88-year-old former president could be released from a hospital any day now. he's been in the hospital since the day after thanksgiving. doctors have been treating him for bronchitis. >>> two kansas police officers gunned down while on the job were remembered last night in topeka. they were both shot in the head while investigating a suspicious vehicle in a grocery store parking lot. the shooter, a man with a history of theft and weapons convictions, was later killed in a shootout with police. >>> a huge drug bust in colombia where authorities seized literally a ton and a half of cocaine. the shipment was set to go to honduras, then mexico, where it would have been delivered to a drug trafficking cartel. the drugs have an estima
.and let us travel italy for a book will ring and i do think that we have this straight now because the color confucian happened. the coffee is the dark brown and i want to show you side-by-side the difference. looks like chocolate diamonds there and then here is the cocoa and this is your champagne. really have side 6 in the cocoa. that is all we have then been you have the coffee here is sure beautiful blue, that is pretty and how about the red ? i will tell you look right off the red is the most rare, a coveted of the colored diamond so if you are fancy diamonds, if you weren't looking for the rest of you want to go for their bread. all look them, they are just beautiful and sparkly and lustrous and they are justgoing to catch light and is a what is interesting is that is not to the victorian era because they did not set of both of all of that good stuff and lots about gold jewelry and at this same time, it is and in contemporary. it is a ring that you will wear day in day out and notice the wi dthand that ring. we do have sizes 5- 10 on all above except for the cocoa. only a c
the merchants they're commenting on. >>> trial began monday in italy for superstar fashion designers. they're charged with tax evasion. they deny any wrongdoing. >>> finally, it may be the only time you smile about a story on the fiscal cliff. you need to check out this youtube video of a little boy glued to the animation used by our friends at cnbc. [ laughing ] >> that's the great thing about kids. you can leave him there for 15 minutes. he'd be all set. >>> one of the coolest down hill skating races you'll see this year. plus, bofrming legend mohammed ali receives the biggest award in boxing history. that's next. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only cit
things that are important until they're not. we were terrified that spain and italy couldn't pay their bills. we knew these companies could not bring down taxes. it turns out that we were afraid that these bonds were bringing the whole world down and we should have been buying them. the europeans offered sensible plans and responsible governments stepped up to increase taxes and cut benefits. if you had been able to borrow a ton of money to buy them it would have doubled. it may have been the single best investment of the 21st century to date. we are gripped by a similar hysteria about our own country. the fiscal cliff is like what they had in europe. we need to look for companies being obliterated by the cliff. banco santander was perceived to be the biggest loser. but it turned out to be an amazing trade. the stock traveled to $7.72. i don't think it's done. charitable trust is buying a major midwestern lender. stock has been sliding every day. key is now under $8 and i can tell from the trading in the name it is not going to happen just yet. there are sellers everywhere. the o
. in italy could these remains be mona lisa? the dna from the bones from a convert in nature rens. they are looking at whether it is lice saw gerdini she is the model that posed for da vinci's famous painting. >> the list of the ten best states for doing business. all but one of those states is actually a right to work state. there could be other factors involved. diane macedo has more on that. >> thousands of people came out to protest. unions there can no longer force workers to pay union dues. but forbes says according to a new survey right to work states have a clear advantage. they show all but one of the top ten states have right to work laws the exception colorado. the rankings for the third straight year. they attribute that to corporate taxes. the pro business regulatory climate and north dakota moves up to number 3 after having the most economic growth after the last five years. the top ten expanded their economies 1.7 percent during the tough years between torques 6 and 2011 the economies contracted an average of .1 percent of the year during that time. all but mississi
. >> the original [ inaudible ] in italy, the corporatist party. >> correct. correct. >> stephanie: exactly. oh by the way, greg writes about reince preibus, gym! >> reinholt reince prebus! [ dog barking ] >> i never thought we would use that sound bite. >> stephanie: they want more debates next time because it makes their candidates look really bad -- >> because we look bad when people here about our ideas. >> stephanie: greg says for jim, now know who else wanted less debates? >> hitler. [ bell chimes ] [ applause ] >> stephanie: hitler. greg you don't need to set jim up. joe in lockport hi joe. >> caller: hi steph. >> stephanie: hi. >> caller: this call is for jacki though. >> oh jacki it's for you! >> stephanie: phone! >> coming! what is up? >> caller: would the premium be for medicare if we all paid it out of our pocket? >> it would be much higher than what you pay now because medicare is regulated in a way that the private insurance market isn't regulated. so it's a percentage of what the private insurance market pays. people complain that medicare rates for doctors, for
." i'm greg gutfeld or as i am known in italy, the florence flasher. now to andy levy for a regame report. w45* is coming up on tonight's show? >> our top story tonight is the gop too extreme? well i have never seen any of them chug mountain dew and then go snowboarding, so probably not. in the wake of the senseless tragedy they want a study on how violent video games affect children. stupid extreme republicans. oh wait. and then what happens when we send bill schulz out to ask people what they think about the nhl lockout. hopefully they body check him to the ground and then drop to the ground and he passes out because of the pain and then pummel him again and then he passes out because of the pain and then repeat the process at 37 times. >> what are you doing here? jay what do you mean? >> technically this show isn't happening. >> why is that? jay because the world has ended. >> greg, it is entirely possible . the mayans are on central time so the world might not have ended. we may get it in under the wire. >> or it could be a strange illusion that when the world ends there is a m
to invade norway, sumatra, trieste, italy, sicily, somewhere in france some day. and his generals were pulling their hair out and eisenhower was. wanted to be all over the map, everywhere. and the fiores -- forays to greece were utter disasters. i would love to follow hovering behind him churchill as he goes from meeting to meeting and it is norway, then when he sells his generals on maybe the viability of going to norway or thinking about it, then he says no, no, we will go to sumatra instead. he gave them fits. host: so, you would tell all kinds of stories in here. you covered the dunkirk story. where was he, what year is dunkirk, what was it and where was he in this process? guest: the evacuation? host: yes. guest: that would be the last week of m
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